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Prime Minister: Government approved key support mechanisms for agriculture sector with a total funding of UAH 6 billion
07.02.2018 | 11:47
INFORMATION AND COMMUNICATION DEPARTMENT OF THE SECRETARIAT OF THE CMU

The Cabinet of Ministers of Ukraine, within the framework of implementation of tasks enshrined in the State Budget and programs of economic development, introduces far-reaching support programs for agricultural sector, which produces one fifth of all production in Ukraine. This was stated by Prime Minister of Ukraine Volodymyr Groysman during the Government session.

"We are launching the introduction of a number of decisions designed to support and ensure the growth of the agriculture sector", emphasized the Prime Minister.

He recalled the total resource allocated for support programs amounts to UAH 6 billion. Funding is directed to several directions. "We are allocating a sum worth UAH 2.5 billion for the construction of dairy farms. Through these funds, we will provide loans at an effective rate of about 3% in national currency up to 5 years or we will compensate about 30% of the cost of the installed capacity. This will enhance the number of farms, thereby the livestock and the volume of production will be increased," the Head of Government stressed.

The Prime Minister placed a particular emphasis on the fact that livestock management will be eased. As an example, financial aid for milk cows  housing for legal entities will be UAH 1.500. For private farms wishing to keep calf compensation will  make up UAH 2500 UAH.

"We will continue the program of support for the production of domestic agricultural machinery. We will disburse UAH 1 billion this year and we will compensate 25% of the cost of equipment produced in Ukraine. We expect to boost the production of domestic machinery", the Prime Minister underscored.

A separate item on the agenda is support for gardening and berry production, including at the level of small farms. "If someone wants to set up a garden, thus it is necessary to purchase Ukrainian seedlings, and the state will  compensate 70% of the cost" the Head of Government claimed.

According to the Prime Minister, a pioneering decision will also be the introduction of a farm development program with the budget of UAH 1 billion. Funds will be directed to ensure a drastic reduction of interest rate up to 1% in the national currency as well as 40% compensation of the cost of Ukrainian agricultural machinery.

"I want to emphasize all decisions were made in synergy with agrarians. I think it is a transparent, open and understandable system due to which we can support all", the Prime Minister added.

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